The university can deny the team sanction. There are some students who have formed teams outside of official sanction, and the university can’t affect those, but it’s good to have sanction, because that usually comes with funding and promotion from the university as well.

Now public universities probably can’t discriminate against shooting teams constitutionally because of the Second Amendment, but that has yet to be litigated, and it would be a long shot with the hostility of today’s courts.